Type A Economic Development Corporation Board

Docusign Envelope ID: 1A769BC2-8B4C-447F-AF12-9F07A5C00750 MINUTES TYPE A ECONOMIC DEVELOPMENT CORPORATION BOARD COUNCIL CHAMBERS MAY 12, 2025 6:00 PM The Joshua Type A Economic Development Corporation will hold a Regular Meeting in the City Hall Council Chambers at 101 S. Main St., Joshua, Texas. This meeting is subject to the open meeting laws of the State of Texas. A. CALL TO ORDER AND ANNOUNCE A QUORUM PRESENT President Anderson announced a quorum and called the meeting to order at 6:00 pm. B. CITIZENS FORUM The Economic Development Corporation invites citizens to speak on any topic. However, unless the item is specifically noted on this agenda, the Economic Development Corporation is required under the Texas Open Meetings Act to limit its response to responding with a statement of specific factual information, reciting the City’s existing policy, or directing the person making the inquiry to visit with City Staff about the issue. No Corporation deliberation is permitted. Each person will have 3 minutes to speak. NA C. REGULAR AGENDA 1. Review and discuss questions related to the budget report for April 2025. (Staff Resource: M. Peacock) City Manager Peacock provided an overview of the budget report and introduced the new financial reporting software. He informed the Corporation that the Finance Director will be present at the next meeting to provide additional insight. He also noted that the Finance Director confirmed the negative figure in the report is a positive indicator. 2. Discuss, consider, and possible action on April 14, 2025, meeting minutes. Motion made by Director Waldrip to approve as presented. Seconded by Director Childers. Voting Yea: President Anderson, Director Morgan, Director Waldrip, Director Childers, Director Farley, Alternate 1 Rayburn, Alternate 2 Walden 3. Discuss, consider, and possible action on approval of the FY2024- 25 Mid-Year Budget Amendment. Motion made by Alternate 2 Walden to approve the 24-25 Mid-Year Budget Amendment. Seconded by Alternate 1 Rayburn. Voting Yea: President Anderson, Director Morgan, Director Waldrip, Director Childers, Director Farley, Alternate 1 Rayburn, Alternate 2 Walden 4. Discuss, consider, and possible action on approval of final agreement for parking, drainage, and landscaping with Rumfield Properties located at the rear of 207 N. Main Street. Type A Economic Development Corporation BoardMay 12, 2025 Page 1 of 3 Docusign Envelope ID: 1A769BC2-8B4C-447F-AF12-9F07A5C00750 Motion made by Director Morgan to approve the final agreement as presented. Seconded by Director Farley. Voting Yea: President Anderson, Director Morgan, Director Waldrip, Director Childers, Director Farley, Alternate 1 Rayburn, Alternate 2 Walden 5. Discussion on a proposed Chapter 380 Economic Development Agreement between the City and Worth Steel, to provide financial assistance for the construction of an approach, driveway, and drainage swales to support site access and alleviate flooding issues. Mrs. Fussner informed the Corporation that staff is exploring opportunities to assist a current business with the construction of an approach, driveway, and drainage swales, as the business is planning an expansion at its current location. City Manager Peacock noted that this business was the first company brought in by Economic Development Director Martin. Although the company experienced a temporary downturn, they have since recovered and are currently performing well. He also discussed existing issues with street infrastructure in the area. Mr. Tanner West, CEO of the business, shared that the company originated in East Texas and relocated to Joshua in 2022. He explained that fluctuating interest rates and the broader political climate had impacted their operations, but since the presidential election, revenue has rebounded. The company is now projecting annual revenues of $11–12 million. Mr. West expressed the company’s intent to continue growing. However, he acknowledged that recent flooding this year has affected their operations. President Anderson inquired about the estimated cost of improvements, and City Manager Peacock responded that the total is projected to be between $60,000 and $75,000. Director Waldrip asked whether the business was aware that the property was in a floodplain. Mr. West confirmed they were aware. City Manager Peacock stated that the City’s Public Works Department will fund a drainage study, and the street drainage issues will be addressed regardless of the EDC’s involvement, as part of broader infrastructure improvements. Director Walden asked whether County Road 904 can currently support truck traffic. City Manager Peacock confirmed that it can. In response to a question from Director Rayburn, Mr. West confirmed he resides in Fort Worth and that the company offers an average wage of $22 per hour. The business is privately owned. Direction: The Corporation provided consensus directions for staff to move forward with the project regarding getting quotes. 6. Discussion on temporarily suspending funding for new parking spaces. City Manager Peacock stated that he will consult with the City Attorney to determine the most appropriate method for suspending funding for additional parking improvements. He noted that the City has already added over 200 parking spaces. D. FUTURE AGENDA ITEMS/REQUESTS BY DIRECTORS TO BE ON THE NEXT AGENDA Type A Economic Development Corporation BoardMay 12, 2025 Page 2 of 3 Docusign Envelope ID: 1A769BC2-8B4C-447F-AF12-9F07A5C00750 (Members shall not comment upon, deliberate, or discuss any item that is not on the agenda. Members shall not make routine inquiries about operations or project status on an item that is not posted. However, any Members may state an issue and a request that this issue is placed on a future agenda.) • EDC Monthly Report • Businesses around the car wash • Land next to the proposed Container Park. • Executive Session- property E. ADJOURN President Anderson adjourned the meeting at 7:55 pm. Approved: June 10, 2025 _______________________________ Linda Childers, Vice President Attest: __________________________ Alice Holloway, City Secretary Type A Economic Development Corporation BoardMay 12, 2025 Page 3 of 3